Copayment
Partial payment of medical service expenses required in group health insurance, in addition to the membership fee. For example, for each visit of a physician a member may be required to pay $5, regardless of the expense of the services rendered. Or, for each prescription for drugs and medicines, the member may have to pay a flat $2 regardless of the actual cost.
Popular Insurance Terms
Life insurance policy provision stating that after the death of an insured, the proceeds from a policy are not immediately paid to the primary beneficiary; instead, they are delayed for a ...
Placement of verbal descriptive information into numerical form for the purposes of analysis. ...
Amount received by the policyholder if the policy is canceled, benefits are reduced, or the premium is reduced. ...
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